SHANNAN'S NEWS COVERAGE
Financial representative: the end of the first phase of the project to delete the zeros from the currency
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Iraqi government has not yet decided to get WTO membership
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Central Bank announces rise in Iraq's reserves of foreign currency to the $60 billion for the first time
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Haitham al-Jubouri calls the central bank to raise the value of Iraqi dinar against the U.S. dollar exchange rate
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World Bank report recommends the development of the financial sector in Iraq
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Attorney Yasiri: Central Bank follows the steps to maintain the balance of the dinar against the dollar .. and his work must not interfere
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Attorney Yasiri: Central Bank follows the steps to maintain the balance of the dinar against the dollar .. and his work must not interfere
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ADDED ARTICLE DURING Q & A:
Iraq dinar will not be used in oil sales
www.sotaliraq.com
08-01-2012 | (Voice of Iraq) - Add a comment - Baghdad - Naseer Goldfinch - Dar Al Hayat
Denied the Deputy Governor of Central Bank of Iraq the appearance of Mohammed Saleh, and there are efforts to use the Iraqi dinar in the sales of some of the oil exports of the country, because the «market speculators will buy the dinar to sell to countries dealing with the country's oil, and we will enter into a whirlpool of speculation in the dinar, and we are already to reduce inflation suffered monetary Ktltna ».
Saleh pointed out that countries that have turned their currencies to the international currency has a very strong economy, such as the European Union, China, Japan and the United States. The Iraqi dinar covers foreign currency assets of over $ 53 billion.
In a draft deleting three zeros from the dinar, said that «the central bank ended the preparations for the replacement process end of the year», pointing out that «dinar witnessed the first process of replacing a successful year 2004, when it replaced more than six trillion dinars Bdnanar new and is expected to begin the process of replacement of a second After removing three zeros end of this year, and this will be decided by the government ».
The size of the Iraqi currency traded locally about 33 trillion dinars, after he was no more than six trillion in 2003, and controlled banks accounted for 70 percent of the money supply.
Salih stressed that the auctions of the Central Bank sold $ 40 billion over the past year, pointing out that «the auction is one of the most important means of monetary policy shift in which oil revenues to the liquidity of local insurance requirements of government budgets, in addition to control of the dinar exchange rate and reducing inflation».
He added that «the bank will be obliged to block the issuance of additional cash during the current year, due to the increased size of the budget, and that means securing additional reserves in hard currency, which is normal with the growth of the overall economy of the country».
He explained that the Central Bank is obliged offering larger quantities of the dollar through auction the higher government expenditures denominated in dinars, as the 60 per cent of the proceeds of the sale go expenses-governmental organizations, and the remaining are for the benefit of the private sector, and expected to increase demand for the dollar in the current year due to adoption of the government budget is the highest in the country's history.
Budget cuts
The Iraqi government decided to cut the budget this year of $ 115 billion to 100 billion, based on the price of a barrel of oil worth $ 85, and a deficit of $ 14 billion would be covered through internal and external borrowing from the IMF and World Bank.
The volume of foreign trade to Iraq in the last year, according to the benefit of $ 46 billion, two-thirds of the private sector. It is noteworthy that the Iraqis would prefer to deal in dollars because of the low value of the dinar, as the value of the banknote the same category Top 25 thousand dinars (equivalent to $20)
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MIKE'S NEWS COVERAGE
Saad: speed up the passage of oil and gas law will join the mechanism to resolve all disputes, between the government and local governments
::::::: SOURCE LINK :::::::
House of Representatives: 2012 will not recognize the budget by mid-February
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Talabani confirms the seriousness of the situation of Iraq and calls for the implementation of political agreements
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BREAKING NEWS Iraqiya slate meets on Sunday evening at Essawi’s residence
::::::: SOURCE LINK :::::::
Iraq’s Shiite-led government demands Kurds deliver Sunni vice president to face terror charges
::::::: SOURCE LINK :::::::
Financial representative: the end of the first phase of the project to delete the zeros from the currency
::::::SOURCE LINK ::::::::
Iraqi government has not yet decided to get WTO membership
::::::: SOURCE LINK :::::::
Central Bank announces rise in Iraq's reserves of foreign currency to the $60 billion for the first time
::::::: SOURCE LINK :::::::
Haitham al-Jubouri calls the central bank to raise the value of Iraqi dinar against the U.S. dollar exchange rate
::::::: SOURCE LINK :::::::
World Bank report recommends the development of the financial sector in Iraq
::::::: SOURCE LINK :::::::
Attorney Yasiri: Central Bank follows the steps to maintain the balance of the dinar against the dollar .. and his work must not interfere
::::::: SOURCE LINK :::::::
Attorney Yasiri: Central Bank follows the steps to maintain the balance of the dinar against the dollar .. and his work must not interfere
::::::: SOURCE LINK :::::::
ADDED ARTICLE DURING Q & A:
Iraq dinar will not be used in oil sales
www.sotaliraq.com
08-01-2012 | (Voice of Iraq) - Add a comment - Baghdad - Naseer Goldfinch - Dar Al Hayat
Denied the Deputy Governor of Central Bank of Iraq the appearance of Mohammed Saleh, and there are efforts to use the Iraqi dinar in the sales of some of the oil exports of the country, because the «market speculators will buy the dinar to sell to countries dealing with the country's oil, and we will enter into a whirlpool of speculation in the dinar, and we are already to reduce inflation suffered monetary Ktltna ».
Saleh pointed out that countries that have turned their currencies to the international currency has a very strong economy, such as the European Union, China, Japan and the United States. The Iraqi dinar covers foreign currency assets of over $ 53 billion.
In a draft deleting three zeros from the dinar, said that «the central bank ended the preparations for the replacement process end of the year», pointing out that «dinar witnessed the first process of replacing a successful year 2004, when it replaced more than six trillion dinars Bdnanar new and is expected to begin the process of replacement of a second After removing three zeros end of this year, and this will be decided by the government ».
The size of the Iraqi currency traded locally about 33 trillion dinars, after he was no more than six trillion in 2003, and controlled banks accounted for 70 percent of the money supply.
Salih stressed that the auctions of the Central Bank sold $ 40 billion over the past year, pointing out that «the auction is one of the most important means of monetary policy shift in which oil revenues to the liquidity of local insurance requirements of government budgets, in addition to control of the dinar exchange rate and reducing inflation».
He added that «the bank will be obliged to block the issuance of additional cash during the current year, due to the increased size of the budget, and that means securing additional reserves in hard currency, which is normal with the growth of the overall economy of the country».
He explained that the Central Bank is obliged offering larger quantities of the dollar through auction the higher government expenditures denominated in dinars, as the 60 per cent of the proceeds of the sale go expenses-governmental organizations, and the remaining are for the benefit of the private sector, and expected to increase demand for the dollar in the current year due to adoption of the government budget is the highest in the country's history.
Budget cuts
The Iraqi government decided to cut the budget this year of $ 115 billion to 100 billion, based on the price of a barrel of oil worth $ 85, and a deficit of $ 14 billion would be covered through internal and external borrowing from the IMF and World Bank.
The volume of foreign trade to Iraq in the last year, according to the benefit of $ 46 billion, two-thirds of the private sector. It is noteworthy that the Iraqis would prefer to deal in dollars because of the low value of the dinar, as the value of the banknote the same category Top 25 thousand dinars (equivalent to $20)
::::::: SOURCE LINK :::::::
---------------------------------------------------------------------------------------
MIKE'S NEWS COVERAGE
Saad: speed up the passage of oil and gas law will join the mechanism to resolve all disputes, between the government and local governments
::::::: SOURCE LINK :::::::
House of Representatives: 2012 will not recognize the budget by mid-February
::::::: SOURCE LINK :::::::
Talabani confirms the seriousness of the situation of Iraq and calls for the implementation of political agreements
::::::: SOURCE LINK :::::::
BREAKING NEWS Iraqiya slate meets on Sunday evening at Essawi’s residence
::::::: SOURCE LINK :::::::
Iraq’s Shiite-led government demands Kurds deliver Sunni vice president to face terror charges
::::::: SOURCE LINK :::::::
